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HDFC Bank advances grew by 21% to ₹10 lakh crore in Q1 FY21

India’s largest private sector lender HDFC Bank on Saturday said that the Bank’s advances on a year on year (Y-o-Y) basis grew by 21 per cent to ₹10.04 lakh crore as of June 2020. The bank’s advances for the same quarter last year stood at ₹8.29 lakh crore. HDFC Bank’s advances as of March quarter stood at ₹9.93 lakh crore.

The growth in advances during the first quarter assumes significance as it has come at a time when the pandemic-led lockdown disrupting businesses and the banking industry’s reluctance to make fresh lending due to risk aversion.

The Bank’s deposits aggregated to approximately ₹11.89 lakh crore in the first quarter of FY21, marking a

25 per cent growth from ₹9.54 lakh crore in June 2019 quarter. The Bank’s CASA ratio stood at around 40 per cent in the April-June quarter as compared to 39.7 per cent during the same period last year. 

During the quarter ended June 2020, HDFC Bank purchased loans aggregating ₹1,376 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC). 

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